KUALA LUMPUR, Sept 23 — The ringgit ended higher against the US dollar as a bit of clarity over US Federal Reserve’s tapering plan and Evergrande’s assurance lifted market sentiment.Bank Islam chief economist Dr Mohd Afzanizam Abdul Rashid said there seemed to be better visibility on the timing of the tapering, likely to be this year.
“And the recent dot plots also indicated that the US interest rate could be raised next year in tandem with improving economic conditions such as the labour market and inflation rate. “In a way, the global economic recovery narrative looks fairly intact although the timing of the first interest rate hike could wreak havoc on the forex market sentiment,” he told Bernama.
In addition, China’s authorities remained committed to ensure that the potential debt default by Evergrande may not result in credit crunch situation, he said.The ringgit rose to 4.8998/9027 versus the euro from 4.9156/9203 yesterday and rose against the yen to 3.8017/8040 from 3.8270/8311. It, however, eased to 5.7157/7192 compared to the British pound from 5.7140/7195 at Wednesday’s close and dropped vis-a-vis the Singapore dollar to 3.1002/1025 from 3.0996/1028 previously. — Bernama
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ringgit lower against us dollar ahead of US Fed decision on tapering | Malay MailKUALA LUMPUR, Sept 22 — The ringgit ended lower today ahead of the US Federal Reserve (US Fed) decision on tapering later tonight and with the possibility of Evergrande defaulting on their interest payments on Thursday. At 6pm, the local note fell to 4.1910/1950 against the US dollar from... Qasim telah melihat Nabi Muhammad SAW lebih dari 300 kali dalam mimpinya & telah berkomunikasi dengan Nabi SAW untuk masa depan umat manusia. Banyak mimpinya menjadi kenyataan & sekarang banyak muslim memanggilnya sebagai Imam Al-Mahdi? Kenapa?
Source: malaymail - 🏆 1. / 86 Read more »
Ringgit trades lower on US asset tapering, Evergrande debt crisisKUALA LUMPUR: The ringgit traded lower against the US dollar at the opening bell today due to the possibility that the United States Federal Reserve (US Fed) would taper its bond purchases and the highly probable debt default by China’s largest property players, said an analyst.
Source: staronline - 🏆 4. / 75 Read more »
Ringgit opens lower after US Fed meeting | Malay MailKUALA LUMPUR, Sept 23 — The ringgit declined further against the US dollar at the opening bell today, following the United States Federal Reserve’s (US Fed) upbeat conclusion of the Federal Open Market Committee (FOMC) meeting yesterday, which could lead to...
Source: malaymail - 🏆 1. / 86 Read more »
Despite going independent, US govt considers banning Honor again - SoyaCincauAccording to new reports, US officials in the Pentagon and US State Dept are looking at placing Honor on the US entity list, banning them from US technology.
Source: Soya_Cincau - 🏆 16. / 55 Read more »
US judge orders Facebook to release anti-Rohingya content for genocide case | New Straits TimesWASHINGTON: A US judge has ordered Facebook to release records of accounts linked to government-backed violence against the Rohingya in Myanmar that it had shut down, the Wall Street Journal reported.
Source: NST_Online - 🏆 17. / 53 Read more »
US and EU look to work more closely in regulating Big Tech at summit | Malay MailWASHINGTON, Sept 23 — The United States and European Union plan to take a more unified approach to limit the growing market power of Big Tech companies, according to a draft memo seen by Reuters. The move will be among announcements on tech, climate, trade and supply chains likely to be made at a...
Source: malaymail - 🏆 1. / 86 Read more »